Amazon to pay France $250 million in back taxes

Amazon.com reports a profit near $2 billion, the largest in its history, as the world's largest online retailer draws millions of new customers to its Prime fast-shipping club for the holiday season and as changes to U.S. tax law added to its bottom line.
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This file photo taken on Dec. 28, 2016 shows the logo of Amazon in Vertou, France.(Photo: LOIC VENANCE, AFP/Getty Images)

PARIS – Online retailer Amazon has reached a deal with French authorities to pay about $250 million in back taxes.

Amazon was asked in 2012 to pay the amount over earnings made in 2006-2010 and has since been involved in a dispute with tax authorities.

Details of the deal have not been revealed.

The company said Monday it has reached an “overall settlement agreement with the French tax authorities on past issues, and our main objective remains to provide the best possible buying experience for our customers in France, where we have invested more than 2 billion euros since 2010, and created more than 5,500 permanent jobs.”